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Practice Area

Securities Litigation

Overview

Maynard Cooper & Gale offers a full array of legal services to a broad and diverse client base consisting of Fortune 500 companies as well as closely held companies, partnerships, professional associations, charities and individuals. The attorneys in Maynard Cooper’s securities litigation practice offer extensive experience in all facets of securities litigation and regulatory matters. The firm’s litigation/arbitration practice spans the country. The firm has handled thousands of securities arbitrations in more than 48 states and internationally during the past 10 years for numerous broker-dealer and financial services clients. Maynard Cooper’s Securities Litigation practice was ranked in the top 50 of all law firms in the 2013 BTI Litigation Outlook report.

Broker-Dealer Representation

The firm regularly represents broker-dealers in arbitrations before the Financial Industry Regulatory Authority Dispute Resolution (FINRA) panels and in state and federal courts across the country. While Florida and California have somewhat unique state licensing requirements for arbitration, several members of our group are licensed in Florida, and one is licensed in California. Over the past several years, we have had extensive experience analyzing and trying cases with complex issues involving diverse financial products, including:

Structured Products

Auction Rate Securities (public and private)

Exchange Traded Funds

Preferred Securities

Open-end and Closed-end Bond Funds

CDOs, CMOs and other asset backed securities

Derivatives

We also have gained significant expertise in defending allegations involving alleged undisclosed conflicts of interest among the various departments within a financial company (e.g., research, investment banking, etc.). We also regularly handle the more typical customer disputes, including claims involving unsuitability, churning, unauthorized trading, and “selling away,” among others.

Lead counsel for Regions Financial Corporation and Morgan Asset Management, Inc. in several putative class actions, derivative actions and individual lawsuits that alleged several billion dollars in damages.

Denial of class certification in a nationwide class action by customers against Morgan Keegan, alleging false statements by a research analyst.

Removal of three lawsuits filed against a major securities firm in Mississippi State Court on behalf of plaintiffs and “similarly situated persons“ (Mississippi does not have a class action rule comparable to FRCP 23), which were subsequently transferred to an MDL proceeding and ultimately dismissed under SLUSA.

Regulatory Investigations and Proceedings

Our attorneys offer substantial experience in defending individuals and firms in regulatory investigations and proceedings. The firm has had significant experience with the Securities and Exchange Commission, FINRA, the Alabama Securities Commission, and other state regulators. We value our good working relationships with the Alabama Attorney General and with the Director and General Counsel of the Alabama Securities Commission.

Local Counsel Representation

The firm frequently acts as local counsel for a number of national law firms and in-house counsel in matters where expertise or experience is needed with Alabama courts or regulatory agencies. We are eager and qualified to work with primary counsel to fill whatever role is needed from Alabama local counsel. Our services as local counsel range from providing limited support to taking primary responsibility for the overall representation.